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Laddering of CDs is a way to obtain high interest rates by purchasing long maturity CDs but at the same time building in a significant amount of flexibility so that you can adapt to market conditions. It involves a strategy that involves multiple CDs maturing in consecutive years. You start the ladder by
The index of interest paid by banks for borrowed funds from customers and other banks. A published index is often used to set the interest rate on adjustable rate mortgages.
National City continues to use its bazooka to gain deposit market share. An ad running in the November 16, 2008 Sunday Chicago Tribune offers the best CD rates in Illinois. The top CD rates of National City require a checking account or savings account to be open in order to obtain the advertised rate. The
The FDIC is the Federal Deposit Insurance Corporation. It is the primary regulating body of state chartered banks that are not members of the Federal Reserve System. It insures the deposits of individual accounts up to $100,000.00 per account.
A fund’s cost of doing business, that is disclosed in the prospectus, expressed as a percent of its assets.
The person or organization who pays or is delivering funds.
The money market itself is the global financial market for short-term borrowing and lending. The money market consists of financial institutions and dealers in money and credit that are looking to either borrow funds or provide funds. The money market provides short term liquid funding for the U.S. and global financial marketplace. The money market
A charge for a service.
A statistical system used to determine whether or not to grant credit by assigning numerical scores to various characteristics related to creditworthiness.
A payment that has been made but not credited to the appropriate account.
This is the third article in a sequence of reviews on banks and bank CDs offered in the Aloha state. This review takes a look at “Bankoh”. “Bankoh” is the nickname for the Bank of Hawaii. Bank of Hawaii is a regional commercial bank headquartered in Honolulu, Hawaii. Bank of Hawaii, a subsidiary of Bank
National bank CD rates were a mixed bag for the week ending August 28, 2009. Overall, CD interest rates had dropped modestly during the week. The short term rates absorbing most all of the loss in yield, while the longer term rates gained ever so slightly.
The average for the best six month CD rates fell
Expenses which are incurred, but for which payment is not yet made, during a given accounting period.
There were mild increases across the board for mortgage rates, CD rates and Treasury rates for the week ending October 5, 2012. The stronger than expected jobs report on Friday was the biggest catalyst of the week that nudged bank rates higher. New loan borrowers and savers need not whimper or cheer, even with the
In a low yield or low interest rate environment, extending the term or maturity of fixed interest rate investments becomes increasingly risky. Inflation is a permanent facet in modern finance. Low rate environments leave little room for rates to go lower and with inflation not likely to be eradicated, rising interest rates are generally only
An EFT authorized in advance to recur at substantially regular intervals.
A fund that imposes a one-time fee, either when fund shares are purchased (front-end load) or redeemed (back-end load), or a fund that charges a 12b-1 fee greater than 0.25 percent.
Certificates of Deposit or CDs combine security with higher returns on an investor’s money. A CD locks in a yield for a term that the accountholder can choose and generally has the following features: the security of FDIC insurance on the CD funds, the ability to select terms that range from 3 months to 10
Union Bank of California is running advertisements promoting their one year CD and money market account. The one year CD has an interest rate of 3.15% APY and the money market account earns an interest rate of 2.52% APY. The consumer bank CD requires a linked checking account to qualify for promotional rate. If linked
Intervest National Bank is owned by the financial holding company Intervest Bancshares Corporation. Intervest Bancshares primarily engages in banking and real estate lending businesses. Along with Intervest National Bank, Intervest Bancshares Corporation also owns Intervest Mortgage Corporation, a mortgage investment Company. The company was founded in 1993. The bank headquarters are located at One Rockefeller